NewtekOne (NASDAQ:NEWT) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of NewtekOne (NASDAQ:NEWT) from a hold rating to a sell rating in a report released on Friday morning.

NEWT has been the topic of a number of other reports. Piper Sandler decreased their target price on NewtekOne from $13.00 to $11.00 and set a neutral rating on the stock in a research report on Monday, March 18th. B. Riley reissued a buy rating and set a $18.00 price objective (down from $19.00) on shares of NewtekOne in a research note on Thursday, March 7th. Finally, Keefe, Bruyette & Woods reduced their price objective on NewtekOne from $16.00 to $13.00 and set a market perform rating on the stock in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, NewtekOne has a consensus rating of Hold and a consensus price target of $14.50.

NewtekOne Price Performance

NASDAQ:NEWT opened at $11.00 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.83. The company has a market capitalization of $282.04 million, a P/E ratio of 6.79 and a beta of 1.25. NewtekOne has a 12 month low of $10.07 and a 12 month high of $19.36. The business’s 50-day moving average is $11.22 and its 200 day moving average is $12.64.

NewtekOne (NASDAQ:NEWT) last posted its earnings results on Wednesday, March 6th. The business services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). The firm had revenue of $75.60 million during the quarter, compared to analysts’ expectations of $62.99 million. NewtekOne had a return on equity of 20.04% and a net margin of 15.19%. During the same quarter in the prior year, the firm posted $0.06 earnings per share. On average, equities research analysts forecast that NewtekOne will post 1.83 earnings per share for the current fiscal year.

NewtekOne Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.19 per share. This is a boost from NewtekOne’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 6.91%. The ex-dividend date of this dividend was Thursday, March 28th. NewtekOne’s payout ratio is presently 46.91%.

Institutional Investors Weigh In On NewtekOne

Several large investors have recently added to or reduced their stakes in NEWT. International Assets Investment Management LLC grew its stake in shares of NewtekOne by 1,280.0% during the fourth quarter. International Assets Investment Management LLC now owns 100,740 shares of the business services provider’s stock valued at $1,390,000 after buying an additional 93,440 shares during the last quarter. Ancora Advisors LLC grew its stake in shares of NewtekOne by 10.4% during the third quarter. Ancora Advisors LLC now owns 82,806 shares of the business services provider’s stock valued at $1,221,000 after buying an additional 7,811 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of NewtekOne by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 72,151 shares of the business services provider’s stock valued at $1,064,000 after buying an additional 1,798 shares during the last quarter. Raymond James & Associates grew its stake in shares of NewtekOne by 12.5% during the third quarter. Raymond James & Associates now owns 53,465 shares of the business services provider’s stock valued at $789,000 after buying an additional 5,953 shares during the last quarter. Finally, Ridgewood Investments LLC grew its stake in shares of NewtekOne by 15.4% during the first quarter. Ridgewood Investments LLC now owns 52,485 shares of the business services provider’s stock valued at $577,000 after buying an additional 7,000 shares during the last quarter. 38.35% of the stock is owned by institutional investors.

NewtekOne Company Profile

NewtekOne, Inc, a financial holding company, provides a range of business and financial solutions to the small- and medium-sized business market. Its business and financial solutions include banking services, business lending, electronic payment processing, ecommerce, accounts receivable financing and inventory financing, insurance solutions, web services, and payroll and benefits solutions, as well as technology solutions, including cloud computing, data backup, storage, retrieval, and IT consulting.